A century in measuring social progress | Business Standard News

Gross domestic product (GDP) has dominated as a measure of national performance over the large part of past 100 years. But an intellectual debate has also raged over finding a better and more representative measure of assessing progress. Interestingly, the debate itself was initiated by Simon Kuznets, the architect of GDP and a Noble laureate: “The welfare of a nation can scarcely be inferred from a measurement of national income as defined by the GDP.”

Source: A century in measuring social progress (Column: Active Voice) | Business Standard News

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